(EVANSVILLE) - An Indiana man convicted of tax evasion has been sentenced to five years in prison and ordered to repay more than $407,000 in federal income taxes.

Gregory P. Stodghill, 46, of Vincennes was sentenced Tuesday in federal court in Evansville after he admitted to engaging in tax evasion. A judge also ordered Stodghill to spend three years on supervised release following his release from prison.

Prosecutors say Stodghill used a complicated series of financial schemes to funnel outside investor funds through a number of off-shore shell companies in places such as the British Virgin Islands and Belize.

The Evansville Courier & Press reports those and other financial schemes created more than $1 million in personal income for Stodghill that he did not pay taxes on.